COMMERCIAL

Grey River Argus, 2 September 1927, Page 6

COMMERCIAL

(Per Press Assn.) The hide market to-day was strong. Medium, light sand kips advanced a farthing, and other sorts were firm. AUCKLAND. Sept. 1. Sa ] es on ’change: Northern Steam (paid) 14s 6d, South British 58s 3<*. .Sales leported: Taupiri Coal 21s 7d ; British Tobacco 54s 6d, Kempthorue .Prosser 60s 9d. Reported sales this morning: 1933 5| per cent, inscribed S.S. £lOO 12s 6d '(3). WELLINGTON, Sept. 1. Sale on ’Change: Commercial Bank of Australia, ord. £1 7s Bd. TALLOW SALES. LONDON, August 31. Tallow sales: 1791 casks offered, 1771 sold. Keen competition; shilling to two shillings advance, 35s 6d and 32s 6d ? 38s, 32s 6d. SYDNEY, September 1. At to-day’s wool sales there was a good general demand, prices being on a par with those ruling during the week. Very full satisfactory clearances were made. Greasy merino sold to 27$d per lb. INDIAN TEA MARKET. CALCUTTA, Sept. 1. A useful selection was offered at the tea sales. There was a strong demand. Prices for all classes showed an advance. Good classes went up to the extent of from six pice to one anna per pound. Dusts were strong at an increase of one anna per pound. Aver age prices were: —Common Pekoe and Souchong, twelve annas nine pice to thirteen annas; clean common broken Pekoe, Sauchong, 13/3 to 13/6; Black leaf Pekoe, 14 to 14/6. KAIAPOI WOOLLEN CO. CHRISTCHURCH, Sept. 1. There were some sharp wordy passages at the annual meeting of shareholders of the Kalapoi V oollen Manufacuting Coy yesterday. Several speakers criticised the directors’ policy, and there was a lively discussion upon the question of the appointment of a general manager. There is nn dividend for ordinary shareholders this year. It was explained on behalf of the directors that they had made frequent attempts to find a man whose qualifications warranted his appointment as general manager. Regarding the financial side they explained that “the mistaken policy on the part of a previous Board ,of Directors had resulted in the reserves being swallowed up,” and that in view of this handicap, and tha depression in the trade, the present directors had done all that was posBible to further the interests of the shareholders.